Independent variables

m_re01

m_re02

gov

0.522*** (0.137)

academic

0.500*** (0.132)

cpa

0.572*** (0139)

law

0.460*** (0.147)

corp

0.582*** (0.134)

fbr

−0.268 (0.359)

dbr

−4.494** (1.637)

fdbr

0.284 (0.194)

bnum

−0.166*** (0.054)

0.009 (0.014)

supervisor

0.006 (0.015)

0.005 (0.017)

fsvr

−0.274 (0.173)

−0.249 (0.191)

assetmil~n

−0.024** (0.012)

−0.022*** (0.014)

first

−0.864*** (0.246)

−0.747*** (0.289)

first2-5

−0.965*** (0.311)

−0.808*** (0.348)

Dum_indu~2

−0.954*** (0.114)

−1.026*** (0.126)

Dum_indu~3

−0.254* (0.165)

−0.162 (0.189)

Dum_indu~4

−0.653*** (0.220)

−0.875*** (0.244)

Dum_indu~5

−0.764*** (0.173)

−0.817*** (0.187)

_cons

3.117*** (0724)

1.635*** (0.276)

N

119

119